Chancellor Philip Hammond would throw the rights of UK fishermen “under a bus in a heartbeat” if it meant gaining preferential market access for the City of London in Brexit trade talks, a Tory source has warned.

UK Environment Secretary Michael Gove has declared he is “invincibly” confident Britain will be negotiating as an independent coastal state by the end of 2020 - despite talk of extending the Brexit transition period.

Chancellor Philip Hammond has been warned not to risk the North Sea’s “bright future” as he faced calls to bring forward Budget measures to shield the industry amid fears of a Brexit-induced skills shortage.